Cognizant Technology Solutions Co. (NASDAQ:CTSH) Shares Acquired by Sompo Asset Management Co. Ltd.

Sompo Asset Management Co. Ltd. grew its stake in Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 26.4% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,790 shares of the information technology service provider’s stock after acquiring an additional 1,000 shares during the quarter. Sompo Asset Management Co. Ltd.’s holdings in Cognizant Technology Solutions were worth $370,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Cibc World Market Inc. grew its position in Cognizant Technology Solutions by 19,850.5% in the 2nd quarter. Cibc World Market Inc. now owns 3,016,114 shares of the information technology service provider’s stock valued at $205,096,000 after acquiring an additional 3,000,996 shares in the last quarter. Pzena Investment Management LLC grew its position in Cognizant Technology Solutions by 11.7% in the 2nd quarter. Pzena Investment Management LLC now owns 18,609,898 shares of the information technology service provider’s stock valued at $1,265,473,000 after acquiring an additional 1,943,127 shares in the last quarter. Bank of Montreal Can grew its position in Cognizant Technology Solutions by 152.8% in the 2nd quarter. Bank of Montreal Can now owns 2,120,012 shares of the information technology service provider’s stock valued at $146,132,000 after acquiring an additional 1,281,236 shares in the last quarter. Assenagon Asset Management S.A. grew its position in Cognizant Technology Solutions by 276.9% in the 3rd quarter. Assenagon Asset Management S.A. now owns 1,588,528 shares of the information technology service provider’s stock valued at $122,603,000 after acquiring an additional 1,167,033 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its position in Cognizant Technology Solutions by 129.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,904,263 shares of the information technology service provider’s stock valued at $139,565,000 after acquiring an additional 1,073,666 shares in the last quarter. 92.44% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on CTSH shares. Daiwa America raised Cognizant Technology Solutions to a “hold” rating in a research report on Tuesday, August 27th. Mizuho lifted their price objective on Cognizant Technology Solutions from $83.00 to $84.00 and gave the company a “neutral” rating in a research note on Friday, November 1st. Deutsche Bank Aktiengesellschaft lifted their price objective on Cognizant Technology Solutions from $70.00 to $80.00 and gave the company a “hold” rating in a research note on Tuesday, October 22nd. StockNews.com cut Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a research note on Friday, November 8th. Finally, JPMorgan Chase & Co. lifted their price objective on Cognizant Technology Solutions from $82.00 to $89.00 and gave the company a “neutral” rating in a research note on Friday, September 6th. One research analyst has rated the stock with a sell rating, seventeen have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, Cognizant Technology Solutions currently has a consensus rating of “Hold” and a consensus price target of $79.47.

Cognizant Technology Solutions Trading Up 0.9 %

CTSH opened at $79.54 on Monday. The firm has a market cap of $39.44 billion, a price-to-earnings ratio of 17.60, a price-to-earnings-growth ratio of 2.17 and a beta of 1.05. The company has a quick ratio of 2.23, a current ratio of 2.23 and a debt-to-equity ratio of 0.08. The business’s 50 day moving average is $76.98 and its two-hundred day moving average is $73.32. Cognizant Technology Solutions Co. has a 52 week low of $63.79 and a 52 week high of $82.41.

Cognizant Technology Solutions (NASDAQ:CTSH) last released its earnings results on Wednesday, October 30th. The information technology service provider reported $1.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.15 by $0.10. The business had revenue of $5.04 billion for the quarter, compared to analyst estimates of $4.99 billion. Cognizant Technology Solutions had a return on equity of 17.08% and a net margin of 11.60%. The company’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.16 earnings per share. On average, research analysts predict that Cognizant Technology Solutions Co. will post 4.66 EPS for the current year.

Cognizant Technology Solutions Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Tuesday, November 19th will be issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.51%. The ex-dividend date of this dividend is Tuesday, November 19th. Cognizant Technology Solutions’s payout ratio is currently 26.55%.

About Cognizant Technology Solutions

Cognizant Technology Solutions Corporation, a professional services company, provides consulting and technology, and outsourcing services in North America, Europe, and internationally. It operates through four segments: Financial Services, Health Sciences, Products and Resources, and Communications, Media and Technology.